The level sensor market was valued at USD 3.77 billion in 2017, and is expected to reach USD 5.19 billion by 2023, recording a CAGR of 5.48%, over the forecast period of 2018-2023.

The rising demand for intelligent sensors to equip microprocessors and provide greater visibility the performance of the machine/instrument has created an increased focus on the adoption of level sensors.

The stringent regulations in developed regions, such as the United Kingdom, Germany, and the United States, in addition to supportive government initiatives, are anticipated to increase the adoption of water treatment technologies, in emerging economies.

The ability to offer higher accuracy, efficiency, easy installation, and maintenance is anticipated to drive the growth of the level sensor market.

Key Highlights

Pharmaceutical Industry to Account for a Considerable Share

North America Expected to Account for the Largest Market Share

Major Developments in the Market

Honeywell Process Solutions (HPS) launched a new solution to help operations and maintenance personnel to monitor midstream gas metering systems. This solution includes level sensors that are of significant importance for level measurement, in the oil and gas industry.

SAP and Endress+Hauser collaborated to develop Industrial Internet of Things (IIoT) applications, for the process industry. This collaboration is expected to bolster the company’s level sensor segment, a significant component of IIoT.